Investors Buy Chevron (CVX) on Weakness

Investors bought shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Tuesday. $226.68 million flowed into the stock on the tick-up and $98.80 million flowed out of the stock on the tick-down, for a money net flow of $127.88 million into the stock. Of all equities tracked, Chevron had the 5th highest net in-flow for the day. Chevron traded down ($1.16) for the day and closed at $110.98

CVX has been the topic of a number of research reports. Citigroup lifted their target price on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Morgan Stanley lifted their target price on shares of Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $120.00 to $140.00 in a research note on Thursday, January 11th. Finally, Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 target price on the stock in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $130.30.

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The company has a market cap of $210,790.00, a P/E ratio of 29.36, a PEG ratio of 2.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. equities research analysts forecast that Chevron Co. will post 6.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is currently 118.52%.

In other news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the transaction, the insider now owns 42,182 shares in the company, valued at $5,019,658. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the completion of the transaction, the executive vice president now owns 110,771 shares in the company, valued at approximately $12,868,267.07. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CVX. Pathstone Family Office LLC raised its holdings in shares of Chevron by 2.5% during the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after purchasing an additional 20 shares during the last quarter. Earnest Partners LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $114,000. Shine Investment Advisory Services Inc. purchased a new stake in Chevron during the second quarter valued at approximately $106,000. Virtue Capital Management LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $128,000. Finally, Fusion Family Wealth LLC increased its holdings in Chevron by 192.6% during the fourth quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 838 shares during the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

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Chevron Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.